Picton Mahoney Asset Management Grows Stock Position in The Boeing Company $BA

Picton Mahoney Asset Management lifted its stake in The Boeing Company (NYSE:BA) by 41.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 115,683 shares of the aircraft producer’s stock after buying an additional 34,152 shares during the quarter. Picton Mahoney Asset Management’s holdings in Boeing were worth $24,968,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Alpha Cubed Investments LLC increased its stake in shares of Boeing by 43.3% during the second quarter. Alpha Cubed Investments LLC now owns 3,598 shares of the aircraft producer’s stock worth $754,000 after buying an additional 1,088 shares during the period. SteelPeak Wealth LLC grew its holdings in Boeing by 50.4% during the 3rd quarter. SteelPeak Wealth LLC now owns 26,360 shares of the aircraft producer’s stock worth $5,689,000 after acquiring an additional 8,833 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Boeing by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 66,773,360 shares of the aircraft producer’s stock valued at $13,991,022,000 after purchasing an additional 1,118,316 shares during the last quarter. Patton Fund Management Inc. raised its holdings in shares of Boeing by 734.4% in the 3rd quarter. Patton Fund Management Inc. now owns 10,322 shares of the aircraft producer’s stock valued at $2,228,000 after purchasing an additional 9,085 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its position in shares of Boeing by 3.3% during the 3rd quarter. Fisher Asset Management LLC now owns 5,505,040 shares of the aircraft producer’s stock worth $1,188,153,000 after purchasing an additional 177,597 shares during the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Boeing

In other Boeing news, EVP Howard E. Mckenzie sold 10,497 shares of the stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $233.99, for a total transaction of $2,456,193.03. Following the completion of the sale, the executive vice president directly owned 14,692 shares of the company’s stock, valued at approximately $3,437,781.08. This trade represents a 41.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Ann M. Schmidt sold 6,281 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $243.37, for a total value of $1,528,606.97. Following the completion of the transaction, the senior vice president directly owned 13,978 shares in the company, valued at approximately $3,401,825.86. The trade was a 31.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 21,012 shares of company stock valued at $4,980,687 in the last ninety days. Insiders own 0.09% of the company’s stock.

Boeing Stock Down 2.5%

Shares of NYSE:BA opened at $223.98 on Wednesday. The Boeing Company has a 1-year low of $128.88 and a 1-year high of $254.35. The company has a debt-to-equity ratio of 8.37, a current ratio of 1.19 and a quick ratio of 0.40. The stock has a market cap of $175.90 billion, a P/E ratio of 111.43 and a beta of 1.14. The firm has a fifty day moving average price of $235.14 and a 200 day moving average price of $219.75.

Boeing (NYSE:BA) last posted its quarterly earnings data on Tuesday, January 27th. The aircraft producer reported $9.92 EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $10.32. The business had revenue of $23.95 billion during the quarter, compared to analyst estimates of $22.41 billion. During the same quarter in the prior year, the firm posted ($5.90) earnings per share. The company’s revenue for the quarter was up 57.1% compared to the same quarter last year. Sell-side analysts predict that The Boeing Company will post -2.58 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BA. BNP Paribas Exane set a $150.00 target price on shares of Boeing in a research note on Tuesday, November 18th. Vertical Research reaffirmed a “buy” rating and set a $281.00 price objective on shares of Boeing in a research report on Tuesday, January 27th. Jefferies Financial Group increased their price objective on Boeing from $290.00 to $295.00 and gave the company a “buy” rating in a report on Sunday, February 1st. The Goldman Sachs Group restated a “buy” rating on shares of Boeing in a research note on Tuesday, December 9th. Finally, Wolfe Research reiterated an “outperform” rating on shares of Boeing in a research note on Tuesday, January 27th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Boeing has an average rating of “Moderate Buy” and a consensus price target of $246.14.

Boeing Profile

Boeing Company (NYSE: BA) is an American multinational corporation that designs, manufactures and services commercial airplanes, defense systems, and space and security technologies. Founded in 1916 by William E. Boeing in Seattle, the company today operates as an integrated aerospace and defense contractor with a global customer base. Boeing relocated its corporate headquarters to Arlington, Virginia in 2022 and maintains extensive engineering, manufacturing and service operations across the United States and around the world.

Boeing’s principal lines of business include Commercial Airplanes, which produces and supports a range of jetliners used by airlines globally; Defense, Space & Security, which develops military aircraft, rotorcraft, surveillance and reconnaissance systems, satellites, and launch and missile systems; and Boeing Global Services, which provides aftermarket maintenance, training, spare parts, digital analytics and logistics support.